Aldebaran Capital LLC Takes $1.73 Million Position in Ziff Davis, Inc. $ZD

Key Points

• Aldebaran Capital LLC opened a new position in Ziff Davis during the first quarter, buying 41,171 shares valued at about $1.73 million. The stake represented 1.3% of Aldebaran’s holdings and about 0.11% of Ziff Davis.
• Ziff Davis reported quarterly earnings of $0.73 per share, edging out estimates, while revenue came in at $267.64 million, also slightly above forecasts. However, revenue was still down 1.9% from the same quarter last year.
• Insider selling picked up, with CFO Bret Richter and EVP Jeremy Rossen both selling shares in June. Over the last 90 days, insiders sold a total of 31,422 shares worth about $1.47 million.

Aldebaran Capital LLC bought a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 41,171 shares of the technology company's stock, valued at approximately $1,728,000. Ziff Davis comprises 1.3% of Aldebaran Capital LLC's holdings, making the stock its 22nd biggest position. Aldebaran Capital LLC owned 0.11% of Ziff Davis as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in shares of Ziff Davis in the 4th quarter valued at approximately $25,000. NBC Securities Inc. grew its position in Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock worth $31,000 after purchasing an additional 485 shares during the last quarter. Hantz Financial Services Inc. grew its position in Ziff Davis by 212.2% during the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock worth $31,000 after purchasing an additional 590 shares during the last quarter. GAMMA Investing LLC increased its stake in Ziff Davis by 207.1% during the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company's stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock valued at $35,000 after purchasing an additional 687 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Ziff Davis Price Performance

Shares of NASDAQ ZD opened at $53.98 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 47.77 and a beta of 1.08. The firm's 50 day simple moving average is $47.13 and its 200-day simple moving average is $41.88. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $54.75.

Ziff Davis (NASDAQ:ZD - Get Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm had revenue of $267.64 million during the quarter, compared to analysts' expectations of $264.32 million. During the same period in the previous year, the business posted $1.14 EPS. The business's revenue was down 1.9% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ZD shares. Weiss Ratings raised shares of Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 1st. Royal Bank Of Canada lifted their price target on Ziff Davis from $40.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Evercore reiterated an "outperform" rating and set a $61.00 price target on shares of Ziff Davis in a research note on Tuesday, May 12th. Piper Sandler set a $48.00 price objective on Ziff Davis in a report on Monday, May 11th. Finally, Susquehanna raised their price objective on Ziff Davis from $45.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $47.25.

Insider Activity

In other news, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.88, for a total value of $843,840.00. Following the sale, the chief financial officer directly owned 29,244 shares of the company's stock, valued at $1,370,958.72. The trade was a 38.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Rossen sold 8,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the sale, the executive vice president owned 14,462 shares of the company's stock, valued at $679,714. The trade was a 35.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,422 shares of company stock worth $1,468,864 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis's flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.

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